Barack Obama on the National Debt

Sen. Barack Obama talks about the national debt

This interview took place on November 9, 2007, at Iowa Public Television. http://www.iptv.org/campaign08/

Yepsen: One of the things I forgot to mention in this little litany is Chinese officials are saying we might not want to be buying any more American debt. How are you going to pay for this? The national debt is at nine trillion dollars now and headed north. How are you going to pay for all these things you want to do?

Obama: well, $10- to $12 billion per month, $196 billion just for next year's request alone, that's a big chunk of change. So if we can phase down the war in Iraq, that's going to start helping us on the money front. I do think that we've got to create a more efficient Washington. I have called for more transparency and accountability.

And when it comes to things like earmarks, we have to prioritize how we're spending money in Washington. And one of the things that I think is important for Democrats to communicate is, just because I'm a progressive and I believe in early childhood education spending and I believe in after-school spending and I believe in a lot of these programs, doesn't mean I don't think there's waste in government.

I just think we're spending it in the wrong places. And we've got to go after no big contracts to Halliburton. We've got to close corporate loopholes where you've got companies in the -- you've got a building in the Cayman Islands where 12,000 companies supposedly are located. Now, that's either the biggest building in the world or the biggest tax rip-off in the world, and we've got to do something about it.

Category:

News & Politics

Tags:

• IPTV
• IowaPublicTelevision
• IowaPress
• Barack
• Obama
• campaign08
• economy
• debt
• budget
• obipyt

[ryanacehigh]

What the hell was that? He hardly answered the question at all! Let say we half spending in the war, that's only about 100 billion saving per year. That is minuscule compared to the 11 trillion federal debt.

[truefaith00]

The hypocrisy and arrogance of this man is stunning.

He says that we can't become irresponsible like the previous administration, yet he's spent more money in his first 100 days than any President in history.

Almost six months into his Presidency, Obama realizes our debt is "unsustainable." Never mind the 3 trillion involved in the porkulus bill and another 100 billion for the war. So much for being the anti-war candidate.

The man is clearly not right in the head. You shouldn't be surprised.

[doit420sdf]

Impeach now. Obama is killing the Constitution. Throw this guy in prison indefinitely.

[slipknotfan90909]

End the drug war!

[iluvpoliticzz]

IF YOU TAX EVERY SINGLE HOUSEHOLD ABOVE 250K AT 100%, YOU ONLY GET 1.412 TRILLION DOLLARS....MR.OBAMA, ITS TIME TO CUT SPENDING! THAT WILL REDUCE THE DEBT!!!

[Digiscat]

Note : bush got us 5 trill more in debt in his 8 years...obama hasnt done 4 years yet and has about 4.5 trill.........yet I say most americans will still vote for him saying its "A lnog term plan"...and then then go for palin since they dont wanna be sexist, and maybe toss that one rich guy in there since they wanna fix the debt. Over all, its obvious the USA has started dying. Lol. At this point only one guy MIGHT be able to fix the debt, and damn, he knows zip about politics.

[gunniesack]

@Wolfordriver You're saying that this would not create tens of thousands of jobs and at least boost the economy and money trickling down creating more jobs? Creating jobs would be a good place to start. Lt. George Washington stated that the only way that America will crumble is from the inside, and this is what I see happening with Barack Obama. He has to many people blinded thinking that politicians are suddenly straight shooters. They re all used car salesmen, and he's the best liar there is.

[gunniesack]

@Wolfordriver

Apparently your degree is not in economics. I figured you as a smart kid. That is why I mentioned a 26 year old movie, but there's a difference between book smarts and common since. I figure you as a liberal so I'll remind you that even Dick Cheney and Dan Quayle both have a degree in law there, Doogie Houser. Common since is not a class given

[gunniesack]

@Wolfordriver Until Doc Brown can get up to 88 miles per hour by jamming garbage into the flux capacitor to use for fuel in order to get Marty Mcfly back to 1985, we are stuck with gasoline. You can keep mentioning how it can be in the future, but I'm talking about right now. BTW Nuclear power is not available in every corner store. Neither are flying unicorns

[gunniesack]

@Wolfordriver I will agree that oil isn't the best idea , but right now you are talking about engines that are not easy to come by or are not invented. If you are 16 then you have probably figured this out hopefully, but back in a place called reality we thrive on oil. this makes our society go. It brings goods to the store, and it takes people to work, and without the dependence on foreign oil we might be able to afford the change that obama was promising